Gold Intraday Signal: Look for 4030 While 4110.00 Holds as Resistance
Gold (XAU/USD) remains under short-term bearish pressure while trading below the pivot resistance at 4110.00. Sellers continue to dominate intraday sentiment, aiming for downside targets at 4030.00 and 4000.00 in extension. The pair’s failure to sustain momentum above 4110.00 confirms that this level acts as a strong resistance zone, keeping the bias tilted to the downside.
The overall technical picture suggests choppy yet bearish price action, with sellers capping every recovery attempt. Momentum indicators are neutral-to-weak, reflecting limited bullish strength, while price action remains below short-term moving averages, reinforcing the bearish structure. As long as 4110.00 holds, traders should anticipate continued pressure toward 4030.00.
Alternatively, a break above 4110.00 would shift sentiment to neutral and open the path toward 4130.00 and 4145.00 before sellers potentially re-enter the market.
Trade Setup:
Enter: Short below 4110.00
Stop-Loss (SL): 4130.00
Target A: 4030.00
Target B: 4000.00
